I think it just depends on the player themselves. If you look at the potential de villiers deal with MRF he is waiting out the rest of the contract but I'm sure it's common practice to just follow the money straight away
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I would assume it depends on the details of the contract.
I do a lot of work with contracts and you see termination for convenience clauses all the time.
You can also have penalty based termination clauses. Something like 'client can terminate contact at any time. On termination, client will reimburse company 25% of total monies contributed to client.'